UBM has reached agreement to divest its electronics media portfolio to an affiliate of Arrow Electronics Inc. for a cash consideration of US$23.5m.
The portfolio comprises the US and Asian versions of EE Times, EDN, ESM, Embedded, EBN, TechOnline and Datasheets.com.
In 2015 these assets generated revenues of $19-16m online and $3m print. The sale is subject to customary closing conditions and regulatory clearance in China.
Tim Cobbold, CEO of UBM plc, said: “In line with our ‘Events First’ strategy this transaction further improves the alignment between our portfolio of Events and Other Marketing Services.”
